Erdogan asks Turks to help prop up plunging lira

Erdogan asks Turks to help prop up plunging liraTurkish President Recep Tayyip Erdogan on Saturday urged compatriots to change their foreign currency to the lira to help prop up the embattled currency. The lira has lost 16 percent of its value against the greenback in a month as markets became jittery after Erdogan indicated he wanted a greater say in monetary policy if he won legislative and presidential elections on June 24. The lira hit 4.92 against the dollar on Wednesday before paring back some of its losses later this week after an emergency central bank rate hike.



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